Though China's imports of crude oil rose 11.2 percent at 81.5 million tons in the first half of this year, its growth rate lowered 4.4 percentage points from a year earlier, according to the latest statistics from the General Administration of Customs (GAC).
The country also imported 18 million tons of refined oil, down 1 percent year-on-year.
Exports of crude oil slumped 39 percent to 1.8 million tons in the first six months as the Chinese government discouraged exports of resources to cut pollution.
Last November, China levied a 5-percent export duty on crude oil causing the sharp drop of oil exports, said Tian Chunrong, a researcher with the China Petroleum and Chemical Corporation.
Exports of refined oil, however, surged 27.6 percent to 7.9 million tons.
China is now the world's third largest oil importer after the United States and Japan and the world's second largest oil consumer after the United States.
According to GAC figures, China imported 145 million tons of crude oil and 36.4 million tons of refined oil in 2006, spending US$ 15.3 billion more than last year because of soaring oil prices in the global market.
China will use up to 350 million tons of oil this year, 10 million tons more than last year, said Jiang Xinmin, an expert with the Energy Institute under the State Development and Reform Commission, the country's economic planner.
High oil prices have impacted the nation's energy budget, he said, adding that the country might replace oil with gas in some areas.
(Xinhua News Agency July 11 2007)
